Webb6 feb. 2024 · Successor liability risk. Under the Indian income-tax law, there is a risk that upon acquisition of a business, the buyer, as a successor, would inherit the tax liabilities, if any, of the seller. This risk is triggered in cases where the transferor cannot be found or where any tax liability is not recoverable from the transferor (for example ... WebbSection 2(42C) defines slump sale to mean a transfer of one or more undertakings for a lumpsum consideration without values being assigned to the individual assets and …

Slump Sale - Setup Services India

Webb23 maj 2024 · Section 50B of the Income Tax Act, 1961 (the Act) is a special provision for the computation of capital gains in case of slump sale of an undertaking for a lump sum consideration without values being assigned to individual assets and liabilities. Webb16 mars 2024 · Slump sale has been defined under Income Tax Act, 1961. Under Sec 2 (42C) “slump sale” means the transfer of one or more undertakings, by any means, for a … imperial agway hours

Transfer of shares of subsidiary not a slump sale, rules Bombay High …

Webb10 dec. 2024 · “Slump Sale” is defined as: transfer of one or more undertakings; as a result of the sale for a lump sum consideration; and Without values being assigned to the individual assets and liabilities in such sales. For the above section: “Undertaking” is as covered by Explanation 1 to clause ( 19AA ). Webb3 apr. 2024 · Assets and liabilities- The main essence of an undertaking is the transfer of an undertaking as a whole. If it is found or does happen that the transfer assets of an undertaking are done without the transfer of liabilities, then the same would not qualify to be regarded as a slump sale. Webb2(19AA) of the Act defines ‘slump sale’ as a transfer of one or more undertakings4 as a result of sale for a lumpsum consideration without assigning values to individual assets … imperial air hose